Cost of 2012 presidential election exceeded $2 billion

12:29 PM,
Dec. 9, 2012

Campaign finance filings show that the cost of the 2012 U.S. presidential race exceeded $1 billion each for Democrat Barack Obama, left, and Republican challenger Mitt Romney. Obama was re-elected president on Nov. 6.

Written by

Jack Gillum
and Stephen Braun

WASHINGTON -- Remarkable for its last-minute surge of contributions, the U.S. presidential election witnessed unprecedented sums of cash boosting two men in their quest for the White House. It was a cost that surpassed $2 billion and sometimes came with the cloak of anonymity for billionaire donors.

The election was the first in which "super" political action committees spent hundreds of millions on television ads, especially those supporting GOP presidential nominee Mitt Romney. Super PACs, like those helping President Barack Obama, benefited from deep wells of money from wealthy ...